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Gold loosing shine can FII sell Indian stocks

Afzal's picture
Submitted by Afzal on December 18, 2009 - 05:35

Gold for February fell $28.80, or 2.5%, to $1,107.4 an ounce on the New
York Mercantile Exchange. Based on the most-active futures contract,
that's the lowest close since Nov. 12.

Dollar is getting some respect and hence gold is loosing shine.  If US interest rates goes high that would lead to FII getting out for better returns and park money in American banks. They don't do that today because they get less then 2% return on their money in banks over there.

Although this is not happening very soon. I am watching gold and dollar carefully to see where BSE will go.


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